Shares of Zomato rose 4% on Thursday to reach a new all-time high of Rs 283.60 after global brokerage firm UBS maintained a buy rating on the stock with a target price of Rs 320, driven by optimism about the company’s growth. UBS in its note stated that the industry volumes are growing at about … Read more
Following a sharp 17% rally in Zomato shares amid blockbuster results, the new-age stock could rally to Rs 292 in the near term, with a stop loss at Rs 252-240, says Anand James, Chief Market Strategist at Geojit Financial Services. “Directional moving indicators and most oscillators point to strength and continuation of the uptrend. Fast … Read more
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Brokerage firm JPMorgan maintained an overweight rating on Westlife Foodworld, Macquarie recommended an outperform rating on Asian Paints, HSBC maintained a buy rating on Zomato and Morgan Stanley recommended equal weight stance on AB Capital. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: JPMorgan on Westlife Foodworld: … Read more
BENGALURU – Zomato is the most-valuable internet stock in Asia’s third-largest economy, with a market capitalisation of more than 1.51 trillion rupees ($18 billion). On Friday, its shares rose nearly 5% to 173.5 rupees. India’s several new-age internet companies that hit the markets during the IPO frenzy in 2021 jumped after listing but slumped eventually … Read more
Shares of food delivery app Zomato jumped over 4% on Friday and hit their fresh 52-week high of Rs 150.20 on the NSE on the back of strong December quarter earnings which handsomely beat Street’s estimates. Strong investor interest in the multibagger stock saw more than 7.32 crore shares changing hands on the NSE around … Read more
MUMBAI – Motilal Oswal Mutual Fund on Monday sold a partial stake in online food delivery aggregator Zomato through the open market, and raked in a profit of Rs 622 crore. The domestic mutual fund firm sold 4.5 crore shares or 0.5% stake in Zomato at Rs 138.15 a share, according to block deals data … Read more
Zomato, part of the e-commerce industry, witnessed some profit-taking after hitting a fresh 52-week high earlier in December but the chart pattern suggests that the bulls are here to stay. Medium to long-term investors can look to buy the stock now or on the decline for a possible 12-month target of Rs 184 in the … Read more
Zomato shares jumped over 4% in the opening trade on Monday and hit their fresh 52-week high of Rs 121.45 on the NSE following target upgrades by as many as five top brokerages. In their post-earnings stock review, CLSA, Jefferies, HSBC, Motilal Oswal and Nuvama reiterated their buy stance on the counter and raised their … Read more
Shares of food delivery app Zomato jumped over 11% in intraday trade and hit their 52-week high of Rs 119.90 on the NSE on Friday following a surprise profit delivery of Rs 36 crore in the September quarter. Analysts had expected the company to post a loss of Rs 5 crore. The stock which closed … Read more